Overview
Fraud manifests in many ways, but recently, scams and identity theft have seen a significant rise. Scammers commonly reach people through phone calls, emails, online platforms, or text messages. They often employ high-pressure tactics to get victims to transfer money immediately, which is a clear warning sign of fraud. To avoid falling victim to scams, it’s crucial to use strong passwords, be cautious with social media, and steer clear of public WiFi networks. If you suspect you’ve been targeted by a scam, remain calm. Gather any relevant documents, notify your financial institution, and file a report with the police.
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​The Rise of Identity Theft
Fraud, especially identity theft, has impacted thousands of Canadians in recent years. Data breaches affecting major retailers, banks, and even social media platforms have put personal information at risk, making it more critical than ever to safeguard your data.
Being informed is the first step in protecting yourself. Scammers are constantly devising new ways to deceive people, but awareness is a powerful tool for prevention.
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​What Is Identity Theft?
Identity theft occurs when someone unlawfully obtains your personal details and uses them for financial gain. In simple cases, they may steal your credit card information and run up charges. In more severe instances, with access to details like your Social Insurance Number or home address, thieves can apply for credit cards or loans under your name.
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Identity theft is far more common than many realize, and criminals find it an easy way to exploit unsuspecting victims. Some may intercept your credit card in the mail or even work for an organization that holds your sensitive information, making it easier to steal your identity.
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​Signs of Identity Theft
Even with advancements in cybersecurity, identity theft can happen without your immediate knowledge. Watch out for these warning signs to catch it early:

Recognizing Scams
When scammers don’t have your information, they may try to trick you into giving it up. Often posing as legitimate organizations like the Canada Revenue Agency (CRA), they employ aggressive tactics to create a sense of urgency.
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Scams typically arrive via phone, email, online platforms, or text. Some use threats like arrest or deportation if you don’t act immediately, while others attempt to get you to click a suspicious link, leading you to inadvertently provide your personal data.
To avoid falling for these scams, here are a few tips to keep in mind:

By phone:

By email/online:

Protecting Yourself from Identity Theft
Although it’s impossible to guarantee complete protection, taking the following steps can reduce your risk of becoming a victim of fraud or identity theft:

​1. Create Strong Passwords and PINs:

Use a combination of upper and lower case letters, symbols, and numbers. Avoid reusing passwords and consider using a password manager. For PINs, ensure they’re unique and update them yearly. Two-factor authentication (2FA) adds an extra layer of security.

2. Monitor Your Credit Report:

Regularly check your credit report for any unusual activity. You can request a free report from Equifax and TransUnion annually. Paid monitoring services can alert you to any unauthorized credit inquiries.
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3. Be Cautious on Social Media:

Avoid oversharing on platforms like Facebook or Instagram. Seemingly harmless details like a pet’s name or vacation plans can provide scammers with answers to common security questions.

​4. Be Vigilant in Public:

Avoid using public WiFi and be cautious when entering your PIN at ATMs or gas stations. Always check for signs of tampering before inserting your card.
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5. Review Transactions Regularly:

Scrutinize your credit card statements for any unrecognized charges. Thieves may start with small transactions, hoping to go unnoticed.
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6. Stay Informed:

Fraudsters are constantly evolving their tactics, so stay aware of the latest scams. If something seems suspicious, investigate before proceeding.
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7. Don’t Fall for Phishing Attempts:

Fraudsters may impersonate trusted organizations to get you to share personal information. Don’t click on unsolicited links or provide details unless you initiated the contact.
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​If You’re a Victim of Fraud
Even with the best precautions, you may still fall victim to fraud. Here’s what to do if your identity is compromised:

1. Stay Calm:

Gather all relevant documents and confirm the fraud before taking further action.
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2. Contact Financial Institutions:

Reach out to the fraud department of your bank or credit card issuer to freeze your accounts and cancel any fraudulent applications.
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3. File a Police Report:

In cases like CRA scams or fraudulent purchases, a police report may be necessary for the investigation.
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4. Set Up Fraud Alerts:

Request fraud alerts with credit bureaus to prevent further unauthorized activity. Monitoring services can notify you of any future attempts to use your identity.
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​Common Scams to Watch Out For

Always Stay Alert
Fraudsters are constantly refining their techniques to trick people. Staying informed about current scams and safeguarding personal information is key to reducing your risk. Additionally, it’s wise to keep sensitive information private—even from those close to you—to further protect against unauthorized use.